Kenya

Banking and finance and capital markets

Daly & Inamdar Advocates has a lengthy history in capital markets transactions, representing some of the biggest corporate issuers in the market. It recently advised the Central Depository & Settlement Corporation on the proposed M-Akiba bond issue by the government of Kenya. Julius Wako is recommended for banking and finance transactions.

Commercial, corporate and M&A

Daly & Inamdar Advocates continues to have a significant market share of headline and high-value transactions, representing some of the biggest corporates in the market. Hamish Keith led the team that advised Sadolin Group on the $100m sale of its paints business in Kenya, Uganda and Tanzania to Kansai Paint Japan. The group also advised Vodafone and Safaricom on the â‚¬2.3bn restructuring of Safaricom and represented Thomas Cook in its acquisition of Private Safaris East Africa from Kuoni Travel Group. Nairobi partners Ashwini Bhandari and Shitul Shah are also prominent corporate and M&A specialists. The firm also has a substantial team in Mombasa.

Employment

Daly & Inamdar Advocates has a mixed contentious and non-contentious practice that has particular experience with share option schemes for substantial corporates. It advised Safaricom on the structuring of its employee share ownership plan. Shitul Shah is the key contact for non-contentious employment issues.

Real estate and construction

Daly & Inamdar Advocates has a healthy practice involving development, leases, acquisitions and disposals work. The firm advised a US-based energy company on land acquisitions for solar energy developments. Nigel Jeremy heads the large team, which also includes Harpreet Ubhi.

The Commercial Bank of Africa Ltd ( CBA ) has obtained a conservatory order at the Court of Appeal in Nairobi ( the Court ) restraining the Cooperative Bank of Kenya Ltd ( Co-op Bank ), Equity Bank Ltd ( Equity ), the Chief Land Registrar and other named Respondents from disposing or dealing in any way with a property in Riruta ( the Property ) pending the hearing and final determination of an intended appeal from the decision of the Environment & Land Court allowing Co-op bank to exercise its statutory power of sale as a first chargee of the Property.

Prior to the enactment of the Unclaimed Financial Assets Act No.40 of 2011, (“the Act”) unclaimed financial assets were left under the control of the various holders or such entities where such assets were held. With the operation of the Act, all entities are required to report, trace and deposit any unclaimed financial assets with the Unclaimed Financial Assets Authority (the “Authority”).

The growth and
popularity of blockchain technology is at an all-time global high and
does not appear to be slowing down anytime soon. Courtesy of the
versatility of its use and application, blockchain technology may have a
newfound utility in the future management and registration of land
transactions in Kenya. This is according to ICT Cabinet Secretary, Joe
Mucheru.

Revenue sharing is the use of profits to enable separate actors develop
efficiencies or innovate in mutually beneficial ways. There are many
ways the revenue sharing concept is structured with the objective being
sharing of revenue profits and losses between various parties. Revenue
sharing is practiced widely in sports, manufacturing industries,
advertising industries, private companies and malls/retail shopping
centers. The International markets are embracing the concept of revenue
sharing or turnover rent.

On 6 th October 2017, the government published the Civil
Aviation (Remotely Piloted Systems) Regulations, 2017 which provide the
legal framework for the use of Remotely Piloted Aircraft Systems,
popularly known as drones in Kenya. Entrepreneurs and investors
therefore have the opportunity to tap into a market which a PwC report
estimates to be valued at over USD 127 Billion globally in such sectors
as infrastructure, agriculture, transport, security, mining, security,
media and entertainment amongst others. Already, African countries such
as South Africa, Morocco, Cameroon, Rwanda and Malawi are exploring
drone enterprises in these sectors.